Inland Marine insurance covers a wide variety of movable property, equipment, construction materials, transportation risks, installation projects, and specialized business assets. Unlike traditional property insurance, Inland Marine products require highly flexible rating models that can accommodate diverse industries, equipment schedules, values, geographic exposures, and specialized underwriting rules. SelectRate enables insurance carriers, Managing General Agents (MGAs), wholesalers, program administrators, and specialty insurers to configure, rate, test, govern, and deploy Inland Marine insurance products from one centralized commercial insurance rating platform. Whether you're writing Contractors Equipment, Installation Floaters, Equipment Floaters, Transportation, or specialized Inland Marine programs, SelectRate provides enterprise-grade flexibility and scalability.
Inland Marine Rating calculates insurance premiums for movable property and specialized commercial assets using configurable exposure characteristics, valuation methods, underwriting rules, carrier pricing, and policy options.
Premium calculations commonly evaluate:
Every exposure characteristic contributes to the final premium.
SelectRate supports virtually every Inland Marine insurance product.
Each product maintains independent pricing while sharing one enterprise platform.
Configure scheduled equipment without software development.
Manage:
Equipment schedules automatically drive premium calculations.
Support multiple valuation methodologies.
Configure:
Each scheduled item can use its own valuation method.
Rate scheduled equipment individually or in groups.
Supports:
Organizations can support virtually any Inland Marine program structure.
Configure Inland Marine coverages.
Supports:
Each coverage maintains independent rating logic.
Inland Marine underwriting rules are fully configurable.
Evaluate:
Underwriting decisions are automatically evaluated during rating.
SelectRate performs complete Inland Marine premium calculations.
Evaluate:
Every calculation is fully transparent through Rating Worksheets and Rating Trace.
Automatically assign Inland Marine documentation.
Supports:
Documentation remains synchronized with every product version. Learn more about Endorsement Management
Every Inland Marine product should be validated before deployment.
Test:
Automated testing reduces production risk while improving pricing confidence.
Expose Inland Marine rating through secure REST APIs.
Integrate with:
Every application uses the same centralized Inland Marine rating engine.
Inland Marine pricing often depends on location and mobility.
Evaluate:
Geographic variables automatically influence pricing. Learn more about Territory Management
Every carrier maintains unique Inland Marine pricing.
Configure:
Carrier pricing remains independent from core product configuration. Learn more about Carrier Rate Multipliers, Carrier Rating Overrides
Inland Marine products evolve continuously.
Manage:
Organizations prepare future releases without affecting production. Learn more about Effective Date Management
Every Inland Marine product change is fully documented.
Track:
Organizations maintain complete governance across every Inland Marine product.
Insurance organizations modernize Inland Marine rating to improve operational efficiency.
Benefits include:
Configure equipment schedules, automate underwriting, simplify pricing, and deploy specialty Inland Marine insurance products faster with SelectRate.